CX Institutional Purchases New Stake in Inter Parfums, Inc. (NASDAQ:IPAR)

CX Institutional acquired a new position in Inter Parfums, Inc. (NASDAQ:IPAR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,029 shares of the company’s stock, valued at approximately $117,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Westwood Holdings Group Inc. bought a new stake in Inter Parfums in the 4th quarter valued at about $46,649,000. Raymond James Financial Inc. acquired a new stake in shares of Inter Parfums during the fourth quarter worth $39,070,000. Norges Bank purchased a new stake in Inter Parfums during the fourth quarter valued at about $32,095,000. Victory Capital Management Inc. grew its position in Inter Parfums by 55.0% during the 4th quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock worth $74,125,000 after purchasing an additional 200,079 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Inter Parfums by 10.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company’s stock worth $147,913,000 after acquiring an additional 108,321 shares in the last quarter. 55.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group raised their price target on Inter Parfums from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. DA Davidson reissued a “buy” rating and set a $170.00 price objective on shares of Inter Parfums in a report on Tuesday, March 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $138.00 target price (down from $169.00) on shares of Inter Parfums in a research note on Thursday, April 24th. Finally, BWS Financial restated a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.60.

Insiders Place Their Bets

In other Inter Parfums news, VP Philippe Santi sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $139.23, for a total value of $139,230.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $122.15, for a total value of $183,225.00. The disclosure for this sale can be found here. Corporate insiders own 43.90% of the company’s stock.

Inter Parfums Price Performance

IPAR stock opened at $137.57 on Tuesday. The company’s 50-day moving average is $121.63 and its 200-day moving average is $127.80. Inter Parfums, Inc. has a 1 year low of $97.65 and a 1 year high of $148.15. The stock has a market capitalization of $4.42 billion, a PE ratio of 29.52 and a beta of 1.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Monday, May 5th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The business had revenue of $339.00 million for the quarter, compared to the consensus estimate of $329.21 million. During the same period in the prior year, the firm earned $1.27 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts expect that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.